Innovation, Business and Rural Development
February 27, 2014

Business Development Investment Strengthens Ocean Technology Sector

$65,000 Investment Supports International Market Presence of GRI Simulation Inc.

GRI Simulation Inc. is able to undertake efforts to enhance its global market presence as a result of Provincial Government funding totalling $65,000. The investment supports the company as it completes a marketing and development plan in order to explore emerging market opportunities through business to business trade shows as well as through market research in China, Brazil, Australia and the United States.

“Throughout the international market, the opportunities for local companies operating in the ocean technology sector are plentiful and it is essential they are able to connect with other professionals in a strategic and timely manner. I am pleased that this $65,000 investment will support GRI Simulation Inc. with their business development goals and allow them to participate in tactical trade missions in order to create lasting and lucrative connections with other organizations operating in the ocean technology sector.”
- The Honourable Terry French, Minister of Innovation, Business and Rural Development

Based in Mount Pearl and established in 1986, GRI Simulation Inc. provides support for Remotely Operated Vehicle (ROV) system development and provides products and services in underwater simulation.

“The investment by the Department of Innovation, Business and Rural Development is enabling GRI Simulations to greatly expand the global scope and depth of our marketing presence at underwater technology and oil and gas conferences and exhibitions beyond our traditional export markets in the North Sea, Africa and the Gulf of Mexico. The marketing program investment in emerging markets such as China and Brazil has given us the capability of broadening our participation and fully supporting our efforts in this regard, with timely advertising and editorial promotion to maximize the impact of our pre-existing programs as well. We are gratified to see that this investment is already contributing to the growth, diversification and sustainability of our business."
- Russell E. Pelley, President, GRI Simulation Inc.

GRI Simulation Inc. focuses on supporting sub-sea ROV operations by providing simulation technology to enhance ROV pilot training, mission planning and rehearsal for offshore oil construction and production operations, as well as military search and rescue and mine-countermeasures activities.

“I am pleased to see this investment into GRI Simulations. This innovative business continues to provide employment in the community and contribute to the robust economy in Newfoundland and Labrador. I congratulate the company on its continued success, and I wish the team at GRI all the best in their future endeavours.”
- The Honourable Steve Kent, Minister of Municipal and Intergovernmental Affairs and MHA for Mount Pearl North

Through sound fiscal management and responsible decisions, the Government of Newfoundland and Labrador is strengthening the business environment, encouraging the development of innovative industries and building a vibrant economy.

QUICK FACTS

• Funding totalling $65,000 will support GRI Simulation Inc. to complete a marketing and development plan in order to explore new market opportunities and grow their business in the international market.
• GRI Simulation Inc. provides high-quality products and services in underwater simulation through dedicated partnerships with customers throughout the industry supply stream.
• Funding was made available through the Business Development Fund which provides assistance to help businesses grow and compete in their markets.
• The Department of Innovation, Business and Rural Development offers a wide range of services to businesses seeking to grow their operations. Additional information on programs can be found at: www.ibrd.gov.nl.ca/programs/BIF.html

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2014 02 27             12:15 p.m.